StockNews.com Initiates Coverage on Nevro (NYSE:NVRO)

StockNews.com assumed coverage on shares of Nevro (NYSE:NVRO - Free Report) in a research note issued to investors on Saturday. The firm issued a hold rating on the medical equipment provider's stock.

Several other equities analysts have also commented on the company. Piper Sandler raised Nevro from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $6.00 to $5.85 in a report on Friday, February 7th. Canaccord Genuity Group raised their target price on Nevro from $4.00 to $5.85 and gave the stock a "hold" rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Nevro from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Nevro from an "underperform" rating to a "hold" rating and upped their price objective for the company from $4.50 to $5.85 in a research note on Monday, February 10th. Finally, Morgan Stanley downgraded Nevro from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $9.00 to $4.00 in a report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.43.

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Nevro Stock Up 0.9 %

NVRO stock traded up $0.05 during mid-day trading on Friday, reaching $5.84. The company had a trading volume of 3,136,359 shares, compared to its average volume of 713,105. The firm has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $4.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.76 and a current ratio of 5.02. The company has a market capitalization of $224.09 million, a price-to-earnings ratio of -3.09 and a beta of 0.94. Nevro has a fifty-two week low of $3.17 and a fifty-two week high of $14.70.

Nevro (NYSE:NVRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The medical equipment provider reported ($0.64) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.15. Nevro had a negative net margin of 16.54% and a negative return on equity of 23.52%. The firm had revenue of $105.55 million for the quarter, compared to analyst estimates of $102.61 million. Analysts forecast that Nevro will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of Nevro

Several large investors have recently modified their holdings of the business. Western Standard LLC acquired a new position in shares of Nevro in the third quarter worth $5,473,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Nevro by 130.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,000,000 shares of the medical equipment provider's stock valued at $5,590,000 after purchasing an additional 566,462 shares during the last quarter. Engaged Capital LLC lifted its position in Nevro by 29.5% during the third quarter. Engaged Capital LLC now owns 2,442,956 shares of the medical equipment provider's stock worth $13,656,000 after buying an additional 557,000 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in Nevro in the 4th quarter worth about $1,976,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Nevro by 20.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,803,532 shares of the medical equipment provider's stock valued at $6,709,000 after buying an additional 306,943 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About Nevro

Nevro Corp., a medical device company, engages in the provision of products for patients suffering from chronic pain in the United States and internationally. The company provides HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS implantable pulse generator (IPG) system, an evidence-based neuromodulation system for the treatment of chronic back and leg pain through paresthesia-free 10 kHz therapy, as well as offers Senza II and Senza Omnia SCS IPG systems.